Multiple rejections at the Fr1.0300 level after a year-long of bearish momentum appears to be a sign that we might be on the verge of a reversal that might lead into a corrective phase of the bearish leading price action that began in March 2021. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (Triple bottom/Breakout) ...
The scope of a very strong bearish momentum on the daily time frame and a reversal set-up (double top) within the major supply zone at C$0.92400 shares a confluence with the bearish trendline to signal a selling opportunity for us in the coming week(s). Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Double...
It has been a choppy situation for EURJPY since mid last year as the price keeps juxtaposing between JY128 and 132.5 zones to emphasize the indecision in this market. With a very simple set-up floating on my screen right now on the 4H time frame, my expectation going into the new week remains bullish considering the rejection of the JY128 level which has a strong...
BTC suffered a plunge to a significant support level at around $34,000 area after news of Russia attacking Ukraine broke out. However, the appearance of a double bottom structure at a significant level of $34,000 incites potential recovery that is due for a relief rally as the Bulls take control with a target at $54,000 area in the meantime. Tendency: ...
The Pound has been trending higher since the beginning of last year and has since been rejected at A$1.915area on two separate occasions (August 2021 and February 2022) thereby leaving a clue for selling opportunity if the price does not break out of this area. Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern...
Since my last publication on this pair, the price moved over 350pips in our direction before the retracement began ( see link below for reference purposes). And I expect the retracement to culminate at a level between 50 and 78.6% before the rally continues hence my previous bias still holds (see link below for reference purposes). Tendency: Uptrend...
As the Russia-Ukraine headlines worsen the market mood, we witnessed rejections of the $0.67 area during last week trading session to impose a shadow of doubts on the potential of the Kiwi going into the new week. However, with current technical structures; I suspect that the acceptance of above the $0.6700 might give a sense of comfort to push the price higher...
Price action has been consolidating right above the key level at Fr1.25 since my last publication (see link below for reference purposes) as indecision continues to grip the market. Like I stated in my last publication, the key level remains a very sensitive borderline where the probability of bullish and bearish momentum is almost of the same possibility. A...
The GBPNZD pair seems to be on the edge of a cliff and it appears to be on the verge of tumbling down into 50 to 78.6% retracement in anticipation of a bullish trend continuation. How do we take advantage of this counter-trend opportunity without getting our fingers burnt? Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal...
This will be my first long term perspective on this pair as I have waited a whole 2 months to identify a double bottom structure within a strong demand zone that has held price "supported" since July 2020! The strong memory for buying tendency at $0.7000 is a clue for an opportunity to buy the Aussie in the coming week(s). The Aussie advanced for a third...
The price moved exactly 400pips in our direction since my last publication (see link below for reference purposes) to set the tone for bearish momentum. In the last week, and with the appearance of a double top pattern; the Pound appears to have found the crucial resistance at JY158 to incite a second downward spiral. The JY158 area already stopped buyers in...
I have taken quite a number of short term personal trades off public eyes due to my inability to find a long term perspective to share with you on this pair - GBPUSD. From the current set-up tonight, I think I am seeing something concrete that we can hold on to for an extended period of time. Recent developments reveal that the GBPUSD has advanced to its strongest...
My bias on this pair remains bullish as activity returns into a critical zone identified as the key level at $1,800 - a psychological number. Since my last speculation on this pair, we all witnessed close to 5,000pips run before "profit takings" happened in the penultimate week which sent price crashing but last week's activity could not push price further...
We witnessed over 200pips move in our direction since my last publication on this pair (see link below for reference purposes) and ...? Fr1.25400 area - Price is currently oscillating within a very sensitive borderline where the probability of bullish and bearish momentum is almost of the same possibility. A significant engulfing candle, either way, could send...
The price moved over 140pips in our direction (see link below for reference purposes) before the appearance of multiple bearish engulfing candles which suddenly disrupted the bullish momentum building up from the reversal structure identified in my last speculation. The EURUSD bounced back after US jobs dip as we witness a cancelling of this bearish move during...
Will the market risk appetite continue to take its toll on the ‘Aussie’ as a reversal setup evolves? The Euro continued to exhibit strength since November 2021 and a Breakout of Key level structure during last week trading session could be an avenue to look for buying opportunities in the coming week(s). Now, what are my expectations? Tendency: Uptrend...
My perspective on this pair is going to be the opposite of the majority in the market as my research reveals that the big wigs are doubling down their position against the new week. Technically, with the strong support @ C$1.415 area; I foresee a short term gain for the Euro which might be a retracement of the overall bearish momentum or a possible move for an...
The British Pound has been gaining momentum since the beginning of December 2021 against this Swiss Franc and price action in the last two weeks might be a retracement in favour of a Bullish momentum in the coming week(s). Tendency: Uptrend (Bulliish) Structure: Breakout | Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: ...